Question

Main Street Muffins sols its m ins to restaurants and coffee houses for an average selling price of $34 Requirement per case. The following information relates to the budget for Main Street Muffins for this year (al figures are Construct a flexible budget performance report for Main Street Mullins for the year. Be sure to indicate annual totals unless otherwise noted): whether each variance is favorable (F) or unfavorable (U). Enter the variances as positive numbers. Label (Click the icon to view the budget information) each variance as favorable (F) or unfavorable (U). If the variance is make sure to enter in a "O". A variance of 2017 is considered favorable.) During the year Main Street Mutins actually sold 7.500 cases, resulting in total sales revenue of $263,300. Actual expenses in total) from this year are as follows: FR Click the loon to view the actual expenses.) Main Street Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Volume 7,500 cases Variance 7,500 cases Variance Budget 7,000 cases Sales revenue (534 per case)

Answer 1

Answer with working is given below

Main Street Muffins Flexible Budget Performance Report-Sales and Operating Expenses For the Year Ended December 31 Flexible Budget Flexible Volume Master Actual Variance Budget Variance Budget 7,500 7,500 7,000 Labor Hours Cases Cases Cases Sales Revenue $263,300 $8,300 F $255,000 $17,000 $238,000 $1,500 A $1,000 A $170 A Packaging cost Shipping expense Sales Commission expense Salaries expenses Office Rent Depreciation Insurance expense Office supplies expense Total Expense $22,800 $17,200 $2,633 $7,500 $3,400 $3,000 $2,000 $1,000 $59,533 $300 $22,500 $2,200 $15,000 $83 U $2,550 $900 $6,600 $3,400 $0 $3,000 -$500 FT $2,500 $400 $600 $3,383 U $56,150 $21,000 $14,000 $2,380 $6,600 $3,400 $3,000 $2,500 $600 $53,480 $2,670 A Net Profit $203,767 $4,917 F $198,850 $14,330 F $184,520